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Banks must do more, with less, in a challenging environment
In the pursuit of growth, many banks have increased their acquisition efforts and loosened credit risk policies. As a result, the number of accounts going to collections and the amount of debt entering recovery have both grown, and loss provisioning requirements add incremental pressure.
For many collections and recovery shops, staying effective and efficient is a huge challenge, especially with flat or shrinking headcount. Plus, outdated systems and processes can lead to lower job performance and higher attrition, along with more customer friction.
The FICO Collections and Recovery Ecosystem for Banking offers a sophisticated, flexible debt management infrastructure that helps you:
The foundation of FICO’s Collections and Recovery Ecosystem for Banking is the seamless integration of our world-class analytics and strategy development tools and robust decision execution environments. This integration facilitates a "learning loop" that empowers business users to quickly understand the performance of their current treatment strategies and to develop, test and deploy refined challenger strategies that will drive more satisfying customer experiences and more profitable business outcomes.
Solving your biggest and most complex business problems.
FICO Optimization Community
A highly automated accounts receivable management system to help control costs, boost revenue and stay compliant.
FICO Collections & Recovery Community
Make more profitable customer and account decisions.
FICO TRIAD Community
One direct, efficient and secure desktop connection to creditors, partners, agencies and data sources.
Gives credit grantors unprecedented visibility and control of accounts placed with agencies, attorneys, debt buyers and internal recovery departments.
It’s good news that smart organizations collecting and recovering debt are moving away from a singular focus on collecting money and toward a broader view, prioritizing the consumer journey and taking into consideration the total lifetime value of the customer relationship.
Cyber attacks and fraud continue to make headlines so, unsurprisingly, a vendor driving change in this globally important area has won the RiskTech100 ® Innovation award for a second consecutive year. FICO’s win reflects its focus on issui...
This FICO-led session will discuss Trends and Challenges in Collections Management and solutions to address these challenges from Early Stage Collection to Late Stage Recoveries. We’ll discuss adaptation of analytics across the industry – ...
Collections agents are more efficient and productive because they have up-to-date customer information, as well as effective collection strategies and customers’ preferred contact methods. Employee training is now easier, and customer delinquencies are reduced.